Office OF THE Comptroller OF THE Currency

The Office of the Comptroller of the Currency has granted preliminary conditional approval for World Liberty Trust Co. to operate as a national trust bank. The decision could allow the firm to take over issuance and custody functions tied to World Liberty Financial’s USD1 stablecoin, pending further requirements.

Zerohash, the crypto infrastructure provider behind digital asset services for major financial firms, plans to resubmit its national trust bank application after the OCC returned its initial filing. The company says the move does not affect current operations and expects a narrower application to receive swift review.

Augustus has raised $180 million at a $1 billion valuation as it seeks to modernize clearing infrastructure for banks, fintechs and crypto firms. The company is not issuing its own stablecoin, instead positioning itself as a bridge between traditional payment rails and blockchain networks.

The GENIUS Act has reached its first anniversary with federal regulators still behind on implementing stablecoin rules. Tether’s USDT now faces a critical compliance window that could shape whether it remains available on U.S. crypto platforms.

Mizuho reiterated a neutral view on Circle after the company secured final OCC approval to establish First National Digital Currency Bank. The firm said the milestone is constructive, but it does not resolve concerns around USDC supply trends, competitive pressure and the broader commoditization of stablecoins.

Circle has received final approval from the U.S. Office of the Comptroller of the Currency to establish Circle National Trust, a federally supervised national trust bank. The move strengthens the USDC issuer’s position in regulated digital asset custody as more crypto firms pursue federal banking approvals.

Coinbase Chief Legal Officer Paul Grewal is departing the exchange after steering its legal team through a major fight with U.S. regulators. He will remain an adviser as Molly Abraham becomes general counsel and Ryan Van Grack moves into a vice chairman role.